Essendant Inc (ESND) Given Average Recommendation of “Hold” by Brokerages
Shares of Essendant Inc (NASDAQ:ESND) have been given an average rating of “Hold” by the six analysts that are presently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating. The average 12 month price objective among brokerages that have covered the stock in the last year is $16.50.
Several brokerages have commented on ESND. BidaskClub upgraded shares of Essendant from a “sell” rating to a “hold” rating in a research report on Tuesday, December 26th. Zacks Investment Research upgraded shares of Essendant from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Finally, ValuEngine lowered shares of Essendant from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd.
Shares of Essendant (NASDAQ:ESND) opened at $9.48 on Thursday. The company has a market cap of $348.66, a price-to-earnings ratio of -1.30 and a beta of 1.21. Essendant has a 1 year low of $8.31 and a 1 year high of $22.52. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.02 and a current ratio of 2.04.
Several large investors have recently added to or reduced their stakes in the company. Susquehanna International Group LLP acquired a new position in shares of Essendant during the 3rd quarter worth $382,000. Public Employees Retirement System of Ohio raised its stake in shares of Essendant by 94.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 70,902 shares of the company’s stock worth $934,000 after buying an additional 34,513 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Essendant during the 3rd quarter worth $225,000. California Public Employees Retirement System raised its stake in shares of Essendant by 19.7% during the 3rd quarter. California Public Employees Retirement System now owns 225,906 shares of the company’s stock worth $2,975,000 after buying an additional 37,206 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. raised its stake in shares of Essendant by 63.6% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 185,900 shares of the company’s stock worth $2,447,000 after buying an additional 72,300 shares during the last quarter. 96.43% of the stock is owned by institutional investors and hedge funds.
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Essendant Company Profile
Essendant Inc (Essendant) is a wholesale distributor of workplace items. The Company’s product portfolio includes Janitorial, Foodservice and Breakroom Supplies (JanSan), Technology Products, Traditional Office Products, Industrial Supplies, Cut Sheet Paper Products, Automotive Products and Office Furniture.
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